Quarterly ResultAug 13, 2026, 08:07 AM
Candel Therapeutics Q2 Net Loss $38.9M; BLA Planned Q4 2026; Cash to Q1 2028
AI Summary
Candel Therapeutics reported a net loss of $38.9 million for Q2 2026, significantly higher than the $4.8 million loss in Q2 2025, primarily due to increased R&D and commercial readiness costs. Despite the increased loss, the company announced plans to submit a Biologics License Application (BLA) for aglatimagene in localized prostate cancer in Q4 2026 and activated the first site for its pivotal phase 3 AURORA trial in NSCLC. Candel also strengthened its commercial team with a new Chief Commercial Officer and reported $201.6 million in cash and cash equivalents, sufficient to fund operations into Q1 2028.
Key Highlights
- Net loss for Q2 2026 was $38.9 million, compared to $4.8 million in Q2 2025.
- Cash and cash equivalents totaled $201.6 million as of June 30, 2026.
- Existing cash is expected to fund operations into Q1 2028.
- Planning to submit a Biologics License Application (BLA) for aglatimagene in Q4 2026.
- Activated first trial site for global pivotal phase 3 AURORA trial for aglatimagene in NSCLC.
- Appointed Mark Sims as Chief Commercial Officer to support potential aglatimagene launch.
- R&D expenses increased to $19.8 million in Q2 2026 from $7.0 million in Q2 2025.
Price Impact
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